Saudi Arabia Financial News

Saudi oil giant Aramco has reported half-year profits of $56.3 billion, down from the year before due to weakening volumes sold amid worries about the global economy

A missile attack by Yemen’s Houthi rebels struck a container ship traveling through the Gulf of Aden, the first assault by the group since Israeli airstrikes targeted them

Oil prices fell on Friday, settling at their lowest since January after data showed the U.S. economy added fewer jobs than expected last month, and weak Chinese economic data added more pressure. Brent crude futures settled down $2.71, or 3.41%, to $76.81 a barrel. U.S. West Texas Intermediate crude futures settled down $2.79, or 3.66%, at $73.52.

IPO-bound baby and mother care products retailer FirstCry reported a 15% growth in operating revenue at Rs 6,481 crore in FY24, while it reduced losses by 34% to Rs 321 crore during the same period, per regulatory filings sourced through business intelligence platform Tofler.

LEH: Expanding its probe into the seizure of 108 kilogrammes of gold bars from the Line of Actual Control (LAC) along the India-China border, the Directorate of Revenue Intelligence (DRI) found that gold bars were smuggled from seven countries, including the United States, Canada, Germany, Saudi Arabia and Dubai, and were brought to Tibet, from where they were meant to be smuggled into India. A total of five suspects, including a couple who ran two cafes in upmarket Leh, have been arrested and taken to Ludhiana for interrogation by a joint team of the DRI, customs and Intelligence Bureau, officials told ET. They said the couple, identified as Tender Tashi and Tashi Dolma, recruited Tenzin Samphel, a native of Hanley in eastern Ladakh, who in turn hired two couriers, Tenzin Targy and Tsering Chamba, from Hanley. The interrogation of the suspects revealed the name of the alleged kingpin, who is believed to be based in Delhi and is presently on the run, according to the people.

Cristiano Ronaldo knows how to spend his money in the most lavish and headline-friendly ways. Now, Ronaldo is spending heavily on his new Lisbon mansion that is projected to become the costliest residence ever in the whole of Portugal, says a New York Post report.

India is likely to cut the floor price for basmati rice exports and replace the 20% export tax on parboiled rice with a fixed duty on overseas shipments, government sources said, as rice inventories in the country jumped a record high. The world's biggest rice exporter imposed various curbs on exports in 2023 and continued them in 2024 in an effort to keep local prices in check ahead of the general elections held in April-May. New Delhi is expected to lower the basmati rice's minimum export price (MEP) to $800-$850 a metric ton, down from $950 a ton, to boost shipments, said the sources, who didn't wish to be identified as they are not authorised to talk to media.

The International Monetary Fund is upgrading its forecast for the Canadian economy, projecting it will now grow by 1.3 per cent this year and by 2.4 per cent in 2025, according to a report released Wednesday.

The head of upcoming climate negotiations is telling world leaders that a new financial aid package for poor and disaster-struck nations is the urgent and make-or-break goal of United Nations talks this fall

Narendra Modi on Saturday blessed the newly-wed couple Anant Ambani and Radhika Merchant after their star-studded wedding that was attended by global celebrities, business tycoons, and politicians. Modi arrived at the Ambani family-owned Jio World Convention Centre here for a wedding reception that has been titled 'Shubh Aashirwad'. Anant, the youngest son of Mukesh Ambani — Asia's richest man — and Radhika, a pharmaceutical heiress, touched Modi's feet to seek his blessings.

Riyadh: Ace Indian cueist Pankaj Advani fell short in his quest to secure a hat-trick of titles, losing 2-5 to compatriot Dhruv Sitwala in the final of the 2024 Asian Billiards Championship here on Saturday. Dhruv set the tone for the match with an impressive start, scoring 103 points, while Advani struggled to get on the board, finishing with no points. Advani managed to improve his game, scoring 36 points, but Dhruv maintained his dominance with another 100. Advani found his rhythm in the third frame and outplayed Dhruv, achieving a remarkable 101. Dhruv, however, had an off-frame, scoring only two points. Advani continued his momentum and scored a perfect 100, while Dhruv managed only 11 points. Dhruv's consistency shone through as he scored 100 again.

The youngest son of Mukesh Ambani, Asia’s richest man, has married his longtime girlfriend in what many have dubbed the wedding of the year attended by global celebrities, business tycoons and politicians, highlighting the billionaire’s staggering weal...

chip giant TSMC into the elite club of the world's most valuable companies is further proof that the generative AI revolution is shaking up Wall Street. TSMC, listed in both Taiwan and New York, briefly broke the one trillion dollar market capitalization barrier on Monday, putting it ahead of Tesla as the seventh most valuable technology giant on the stock market.

Democracy and markets share a belief in the ‘wisdom of crowds,’ a thesis presented well by James Surowiecki in a book by that title which offers various examples of how numerous minds put together are smarter than a few. The antithesis of it, though, glares out from every news report of a stampede. Can a clash of that crowd thesis with its antithesis yield a synthesis? Say, the ‘common sense of crowds’? The question has arisen again as India mourns the 120-plus lives lost to another crowd crush, this time in a slushy field near Hathras, Uttar Pradesh, where an estimated 250,000 devotees had turned up at a religious gathering, although local authorities said approval had been given for just 80,000.

Why Reliance’s investors opposed board roles for Saudi businessman and Khaitan While JFSL’s split led to 46% promoter shareholding, close to a simple majority of 51%, the same exercise may give RIL’s promoters a mere 33% stake in Jio Platforms. Jefferies offers them a solution — raise their stake in Jio after the listing to bring it closer to 51%, as they did with JFSL. But there’s a problem.

Among the distinguished guests were US television personalities Kim Kardashian and Khloe Kardashian, Nigerian rapper Rema, and former UK Prime Minister Tony Blair. The event also saw the attendance of business magnates such as Saudi Aramco CEO Amin Nasser and Samsung Electronics Chairman Jay Lee. Bollywood's elite turned out in full force, with stars like Amitabh Bachchan, Shah Rukh Khan, Salman Khan, Ajay Devgn, Ranbir Kapoor, Alia Bhatt, Tiger Shroff, and Varun Dhawan gracing the occasion. Southern cinema icons Rajinikanth, Ram Charan, and Mahesh Babu also added to the glittering guest list. Indian cricket legends Sachin Tendulkar and Mahendra Singh Dhoni, along with current stars like Jasprit Bumrah and Hardik Pandya, were present to celebrate the union.

Indian imports rose to 42% in June from 37% in May and was more than the combined share of the next four largest suppliers, according to energy cargo tracker Vortexa. Crude imports from Russia jumped 13% in a month to 1.92 million barrels per day (mbd) in June. Russia's share in Indian imports exceeded the combined share of Iraq (16%), Saudi Arabia (8%), the UAE (8%) and the US (7%). Supplies from Iraq dropped 22% in a month to 754,000 barrels per day (bpd) in June and imports from Saudi Arabia fell 36% to 386,000 bpd. Supplies from the US, however, rose 63% to 330,000 bpd.

Global celebrities, business tycoons and politicians are arriving in India’s financial capital to attend the wedding of the youngest son of Mukesh Ambani, the world’s ninth richest man

Mint examines this question and more. The Shanghai Cooperation Organisation (SCO) was formed in 2001. It evolved from an earlier avatar known as the Shanghai Five, comprising Russia, Kazakhstan, Kyrgyzstan, Tajikistan and China.

After a blockbuster six months, the sale of emerging-market bonds in hard currencies is set to slow down sharply in a second-half that’s littered with political risk.